Hales will commit $20 million from city funds and Multnomah County Chairwoman Deborah Kafoury will pledge $10 million.

The money will pay for new affordable housing units and shelter beds for women and families. Money will also be used toward protections for renters.

Officials plan to spend $10 million to build housing for homeless residents, with an emphasis on those with mental illness who will access the Unity Center, a soon-to-open psychiatric emergency room. The funding is also expected to pay for more than 650 shelter slots.

It's not immediately clear where the money will come from, or whether some of the funding has already been earmarked toward housing programs or other efforts. City and county leaders this year budgeted $12.5 million toward "A Home For Everyone," a partnership effort to end homelessness.

Wednesday's announcement comes one week after Hales announced his plan to declare a "housing emergency." At the time, Hales hadn't built support with other policy makers and, when asked about a funding commitment, offered none and instead deferred to the City Council.

Officials will announce their $30 million pledge at 8:45 a.m. Wednesday. Return to OregonLive later this morning for more details.